After what seemed to be a rollercoaster ride past month, the prices of petrol gets another jitter, and oil companies announce another slash of Rs 2 per litre today. This owes to the unrelenting descend of crude oil prices in international markets. Indian oil companies will have a word over this matter in a meeting today evening.
Relenting to public uproar over the steepest price change of petrol in Indian history, the petrol prices saw a trim of Rs 2.02 a litre against the rise of Rs 7.54 a week before that. With the petrol prices moving down south in international market from $116 to $96 per barrel, the government is willing to let the common man enjoy it by offering a relief of Rs 2 a litre.
However, as the value of Indian rupee is depreciating in the international market, it remains pretty sketchy what the government will do against the prices of subsidized fuels.